Fixed and variable expenses

Front

What are fixed expenses?

Back

Expenses that do not change from month to month, such as rent or mortgage payments.

Front

What are variable expenses?

Back

Irregular expenses that change from week to week or month to month.

Front

Give an example of a fixed expense.

Back

A Netflix subscription.

Front

Give an example of a variable expense.

Back

Eating out.

Front

What is the difference between fixed and variable expenses?

Back

Fixed expenses remain the same, while variable expenses can change.

Front

Is an electric bill a fixed or variable expense?

Back

It can be both, debatable.

Front

What is a budget?

Back

A plan that outlines how much money you will spend and save.

Front

Why is it important to track expenses?

Back

To understand where your money goes and to help manage your budget.

Front

What is profit?

Back

The money you make after subtracting costs from sales.

Tags

CCSS.6.NS.B.3

Front

If you buy something for $10 and sell it for $15, what is your profit?

Back

$5.

Tags

CCSS.7.EE.B.3